Reply to: Mortgage

[TykeMerc]

Who does the business belong to?

Me, but simply because I own the business it doesn't mean the money belongs to me until I draw it as salary, declare a dividend or have expenses reimbursed. MyCo Ltd is a different legal and financial entity.

[escapeUK]

Call me daft if you like, but since the money for that belongs to my business it stays in my business accounts in a totally different bank.

Who does the business belong to?

[TykeMerc]

Me too, and theres all that corporation tax and vat sat around too.

Call me daft if you like, but since the money for that belongs to my business it stays in my business accounts in a totally different bank.

[escapeUK]

Absolutely agree with that. If nothing else as contractors we have to maintain a warchest so an offset makes a lot of sense as let's face it there's bugger all interest being paid on savings that are accessible.

Me too, and theres all that corporation tax and vat sat around too.

[Paddy]

Do I take 3.99 fixed for 5 years or 2.0% above base variable?

RANDOM.ORG - Coin Flipper

[DimPrawn]

[DimPrawn]

You only make money out of Gold when someone more stupid than you buys it from you.

Or the person holding bits of paper realise it isn't worth the paper it is printed on.

[Churchill]

I can do that too - it's still in the bank, but not in an offset.

Heard a quote the other day from an economic expert about Gold - "It's not much use for anything, whereas Copper...." etc
Turns out you can't build infrastructure with Gold, you need loadsa Copper...

You only make money out of Gold when someone more stupid than you buys it from you.

[Dearnla]

In my case it's essentially an easy access to instant cash tool, got an offset with a positive credit balance and when I needed access to £15k last week I just pulled it straight out of the account.

I can do that too - it's still in the bank, but not in an offset.

Heard a quote the other day from an economic expert about Gold - "It's not much use for anything, whereas Copper...." etc
Turns out you can't build infrastructure with Gold, you need loadsa Copper...

[wantacontract]

Pretty sure the base rate is going up at by 0.5% this year and maybe another 0.5 next year.

Still that's only 1%. Mortgage will be paid off by then anyways....(I'm buying a small house.)

[SueEllen]

What's that supposed to mean?

Look at unemployment rates.

Once unemployment goes down (and you don't hear moaning about young people not having jobs) then interest rates will go up.

[DimPrawn]

this gold that you buy, what do you do , keep it under the bed or something ?

I've used it to block pave the front drive. Looks nice in the early morning sun.

[TykeMerc]

<Smartass mode on/ What's a Mortgage? paid mine off 3 years ago. Yippee.../Smartass mode off>

In my case it's essentially an easy access to instant cash tool, got an offset with a positive credit balance and when I needed access to £15k last week I just pulled it straight out of the account.

[EternalOptimist]

Exactly. If you think the mortgage lenders don't know what coming (interest rates wise) you are deluding yourself.

Take the lowest cost option now (not some complex deal with terrible tie ins). With the money you save now, pay down the capital or buy gold (Buy Gold Bullion TODAY ▷ Buy Gold Online at LIVE Gold Prices - BullionVault.com is my preferred route).

Interest rates aren't going up, and if they do, it will be a token 0.25% hike to show "BoE clamps down on 200% inflation rate".

this gold that you buy, what do you do , keep it under the bed or something ?

[milanbenes]

Reckoned by whom exactly benesy?
You been on AtW's Blog again?

less of it you cheeky cant

Milan.